Capital market-relevant press releases, 2001-10-24, 02:00 AM
ThyssenKrupp Automotive expands its systems business
ThyssenKrupp Automotive`s strategy is aimed at expanding its components and systems businesses in axles, chassis, steering and complete autobodies.
Acquisition of a 10% interest in Valmet
To expand its autobody systems business, ThyssenKrupp Automotive AG (TKA), Bochum, has acquired a 10% interest in Valmet Automotive Inc., Uusikaupunki , part of the Finnish Metso Corporation, Helsinki. TKA also has an option to purchase the remaining 90% interest in Valmet. Valmet is a leading designer and manufacturer of prototypes and niche vehicles. In 2000 Valmet, which has 1,600 employees and sales of euros119 million, turned out some 38,500 vehicles (Porsche Boxster, Porsche Boxster S, Saab 9-3 Convertible and Saab 9-3 Viggen) from its Uusikaupunki facility.
The interest in Valmet will strengthen ThyssenKrupp Automotive`s position as a worldwide partner to the auto industry. TKA`s development and engineering know-how will combine ideally with Valmet`s manufacturing expertise to provide full vehicle capability. A joint TKA/Valmet team will be set up to acquire further orders. The link-up creates a single-source supplier of all capabilities, from engineering to the manufacture of niche vehicles.
Automobile manufacturers are increasingly outsourcing the production in particular of niche vehicles to external partners who they expect to deliver comprehensive capabilities taking in program management, product development and design engineering, supplier management and manufacturing engineering right through to vehicle manufacture.
Planned acquisition of p.a.d. Karosserietechnik GmbH
The planned acquisition of p.a.d. Karosserietechnik GmbH, Neckarsulm, is a further step toward expanding ThyssenKrupp Automotive`s systems business and strengthening its development and engineering capabilities. p.a.d. has around 360 employees at 12 locations in Germany and abroad. The company focuses primarily on body, interior and engine development and electrical and electronic assemblies.
p.a.d. has been providing services from conception to prototypes to production parts for over a decade. Since September 1999 the company has collaborated successfully with ThyssenKrupp Automotive on a number of projects. This cooperation has now been cemented by the acquisition of p.a.d.
Joint venture with Karosseriewerke Weinsberg GmbH
TKA is also broadening its range in the field of prototype construction. TKA subsidiary Krupp Drauz, Heilbronn, has formed a joint venture - Drauz Weinsberg Prototyping GmbH, Heilbronn - with Karosseriewerke Weinsberg GmbH to pool the prototyping activities of both companies. Krupp Drauz holds 51% of the joint venture.
ThyssenKrupp Automotive is one of the world`s biggest automotive suppliers with a global network of more than 120 production locations in 16 countries manufacturing tailor-made components, modules and systems in all key markets for body, chassis and powertrain applications. In fiscal year 1999/2000 the 40,000-strong workforce generated sales of over euros6.1 billion.
ThyssenKrupp Automotive AG
Central Bureau/Public Relations Department
Tel.: +49 234 919 60 12
Fax: +49 234 919 60 14